WASHINGTON, DC – Representatives Raúl Grijalva (D-AZ) and Keith Ellison (D-MN), co-chairs of the Congressional Progressive Caucus (CPC), released the following statement in response to a reported agreement in Congress on extending certain tax breaks.
The provisions that are included in the deal, such as permanent extension of tax breaks for corporate research and continued fossil fuel subsidies, will add nearly $450 billion to our budget deficit while providing little relief to the middle class and phasing out renewable energy credits.
“The tax extension package will once again be a boon for corporate profits while largely leaving out middle-class and low-income families who are struggling just to get by. If we can find hundreds of billions of taxpayer dollars to make corporate tax breaks permanent, we should be able to help those struggling to find work. We should be making permanent those tax breaks that help working families without adding restrictions that exclude children in need. This deal is a permanent step backwards for those who think we have a system that is rigged in favor of the wealthy.”